The economic effects of the Covid-19 pandemic and the Russian-Ukraine war have disrupted trade and investment flows on a global scale, affecting Africa and Latin America in distinct ways. Additionally, the collapse of prominent banks in the U.S and Switzerland has triggered a global financial downturn, leading to reduced investments and funding opportunities for startups and businesses in these regions. The combined effects of these events have created a challenging economic landscape for Africa and Latin America.
KAS ADELA / SALMA Dialogue for Economic Cooperation conference 2023, was held from the 2nd to the 5th of July in Cadennabbia, Italy. This conference aims to build bridges between Africa and Latin America as well as between the countries represented.
Through fostering collaboration, sharing of knowledge, and exchange of ideas and innovative technologies, the objective of the Economic Recovery Conference is to promote sustainable economic development and facilitate the recovery of economies in challenging circumstances.
The conference facilitates networking between high representatives from national governments, International and regional bodies, national and international civil society organizations, scientific organizations, and private enterprises active in such related fields.
The conference covered various topics related to South-South and Triangular cooperation. Firstly, discussions were held on International Cooperation and the promotion of regional alliances for South-South Cooperation, trade, and negotiation as tools for economic recovery. International financing for innovation in response to new socioeconomic challenges faced by regions, as well as best practices for the implementation of regional cooperation for innovation and technology transfer, were also addressed.
It is important to highlight that despite the different strategies, political systems, leadership, economic policies, and demographic factors, nearly all countries are facing similar economic, educational, and health challenges, leading them to a state of stagnation. In this sense, it is relevant to change paradigms and rethink the way in which countries relate to each other beyond regional cooperation. Among these topics, food security, technologies for innovation, the need for the channeling of scarce raw materials, climate change, infrastructure, and renewable energies were mentioned.
